The dean of a business school claims that the average monthly income of his school's Bachelor of Science in Business Administration graduates 2 years after graduation is ₱24,700. If the dean's claim is correct, and if the distribution of monthly income has a standard deviation of ₱4,100, what is the probability that 50 randomly selected graduates have an average income of greater than ₱22,800?

The dean of a business school claims that the average monthly income of his school's Bachelor of Science in Business Administration graduates 2 years after graduation is ₱24,700. If the dean's claim is correct, and if the distribution of monthly income has a standard deviation of ₱4,100, what is the probability that 50 randomly selected graduates have an average income of greater than ₱22,800?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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